13th Apr 2023 12:01
(Alliance News) - London Stock Exchange Group PLC on Thursday announced the launch of Turquoise Retail Max, a new trading service aimed to support European retail brokers.
LSEG said the new service targets European retail brokers who want to deliver price improvement for end retail investors when trading pan-European securities.
The new service is available through Turquoise Europe, with Hudson River Trading and Stifel being the first retail liquidity providers utilising the new service.
Adam Wood, Chief Executive Officer at Turquoise Global, and Head of Equities Trading Commercial Proposition at the LSEG said: "For the first time, retail brokers will be able to achieve execution at primary market midpoint in a fully pre-trade transparent order book. Clients' orders will benefit from a diverse source of liquidity, with competitive pricing through a traditional auction process. By placing retail investor orders at the centre of the price formation mechanism, the new service will assist retail brokers in achieving best execution."
LSEG shares were 0.3% higher at 8,002.00 pence each around Thursday midday in London.
By Tom Budszus, Alliance News reporter
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